Nasdaq – Monthly Analysis

NQ is now down 10% from its October high. We warned about the setup on October 4, while Nasdaq was still flirting with the top. Ignoring that warning has already become expensive. But the decline itself is no longer the most interesting part. October is now in the books, and the monthly close gives us a much bigger question to answer: was this simply a sharp correction—or did Nasdaq just confirm the opening leg of the much deeper move already mapped on our chart? The first target is no longer theoretical. Now we need to find out whether October just confirmed the path toward the next one. CANDLES & TA: Nasdaq closed October with a full Bearish Engulfing on the monthly frame and a break below the 8 EMA, a combination that almost guarantees lower prices in November. The 2M frame was far less decisive, and its direction will not…